A manufacturer and supplier of waterproofing products for the construction market was operating out of a facility in Charlotte, North Carolina that they were growing out of and sought to purchase or lease a new facility to accommodate their expansion. The company had been working with another broker for approximately two years and had exhausted their options. Location was an important factor, as many employees lived in close proximity to the current facility making it accessible and convenient. Timing was also critical, as the current facility’s lease was close to expiring.
Allegro helped the company reassess the market, looking at both lease and purchase options and developing financial models for each scenario. Ultimately, Allegro was able to guide the client through the purchase of a $2.6 million 67,270 sq. ft. industrial building that was built in 1993. The building boasts approximately 5,000 sq. ft. of office space and is located in close proximity to their previous facility. This asset gave the company the opportunity to grow, provided additional outdoor storage, and did not disrupt employee commutes while effectively solving their timing challenge.